A key factor driving the growth of this market is the growing need for cleaner energy. Fossil fuels have transformed the world by producing end products like fuels and electricity that play a crucial part in human endeavors like heating and transportation. In 2016, fossil fuels accounted for the largest share of 76% of the total electricity consumption. The high adoption of fossil fuels can be attributed to their low cost and reliability in producing electricity and transportation fuels.
This market research report on the global biomass power generation market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the advances in technology as one of the key emerging trends in the global biomass power generation market:
Global biomass power generation market: Advances in technology
The global biomass power generation market is witnessing significant advances with respect to the purchase involved in biomass energy production and energy conversion technologies. The soil preparation, planting, and cultivation methods have been improved. The production costs of biomass energy have reduced due to the development of improved harvesting and post-harvesting technologies.
“In biomass energy conversion, the technological advances take place in three sources, which are improved fuel processing technologies, enhanced efficiency of biomass energy conversion technologies, and enhanced efficiency of end-user technologies. Another improvement is that of co-firing with other fuels such as coal. The biomass and coal blend co-combustion is an efficient combustion technology. Using coal in the co-firing process can reduce ash, dust, nitrogen oxide, and sulfur dioxide emissions,” says a senior analyst at Technavio for research on power.
Global biomass power generation market: Segmentation analysis
This market research report segments the global biomass power generation market by feedstock (agricultural and wood residue and municipal waste) and geographical regions (APAC, EMEA, and the Americas).
36% of the incremental growth is expected to originate from the EMEA region followed by APAC and the Americas with 34% and 30%, respectively.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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